If preferences are rational and continuous, then strict convexity implies that the demand correspondence is single-valued (e.g. Barten and Böhm, 1982, lemma 7.3). We show that if, in addition, preferences are strictly monotone then the converse is also true, namely single-valuedness of the demand correspondence implies strict convexity of preferences.
Single-valuedness of the demand correspondence and strict convexity of preferences: An equivalence result / Bilancini, Ennio; L., Boncinelli. - In: ECONOMICS LETTERS. - ISSN 0165-1765. - STAMPA. - 108:3(2010), pp. 299-302. [10.1016/j.econlet.2010.05.025]
Single-valuedness of the demand correspondence and strict convexity of preferences: An equivalence result
BILANCINI, Ennio;
2010
Abstract
If preferences are rational and continuous, then strict convexity implies that the demand correspondence is single-valued (e.g. Barten and Böhm, 1982, lemma 7.3). We show that if, in addition, preferences are strictly monotone then the converse is also true, namely single-valuedness of the demand correspondence implies strict convexity of preferences.
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